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Thomson Reuters outperforms revenue estimates.Transformation into a business company

Image Source: Thomson Reuters 2020 Fourth Quarter and Full Year Earnings Announcement, February 23, 2021

New York (Reuters)-Thomson Reuters reported on Tuesday that earnings increased in the fourth quarter and announced that it would launch a two-year program to change from a holding company to an operating company.

News and information firms that own Reuters said revenues increased 2% to $ 1.62 billion and operating profit increased more than 300% to $ 965 million. This reflects the sale of investments, the benefits of pension plan modifications and more. cost.

The three major divisions, legal professionals, tax accounting professionals, and companies, all showed increased quarterly sales and adjusted profits.

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The healthy and evolving market for Thomson Reuters provides a good opportunity to move the company from a content provider to a “content-driven technology company,” CEO Steve Hasker said in a statement. ..

He said the workplace has changed with the COVID-19 pandemic and artificial intelligence is playing a bigger role in the professional market.

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Image Source: Thomson Reuters 2020 Fourth Quarter and Full Year Earnings Announcement, February 23, 2021

Written by Nick Zieminsky in New York, edited by Louise Havens and Jane Merriman.

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Source: Reuters




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